Monarch Bank developed this award program three years ago to recognize local businesses. Monarch's contest has collectively received over 200 business entries that grew operating revenue $495 million and added 1,607 new jobs to the local Hampton Roads economy.

Semifinalists, Diaper Junction, Marathon Consulting, and Homeland Contracting Corporation were chosen by an independent panel of judges based upon a formula that took into account: growth in both revenue and full-time staff employed over the company's three most recent completed fiscal years; descriptive narrative on how the prize package will be implemented; and community service.

Community enthusiasts were encouraged to vote for their favorite semifinalist through a text-to-vote and online poll to determine the final prize package winners.

Diaper Junction will receive a $50,000 prize package of $10,000 cash from Monarch Bank; a professional business service package valued at $10,000 from accounting, tax and advisory firm Cherry Bekaert, LLP; a professional communications package valued at $10,000 from Cox Business; an advertising package, including the creation of a 30-second commercial and cable airtime, valued at $10,000 from Cox Media; and an advertising contract with Pilot Media valued at $10,000.

Marathon Consulting will receive a $15,000 prize package of $5,000 cash from Monarch Bank; a professional business service package valued at $5,000 from accounting, tax and advisory firm Cherry Bekaert, LLP; and an advertising cable airtime package valued at $5,000 from Cox Media.

Looking at the universe of stocks we cover at Dividend Channel, on 2/6/15, Monarch Financial Holdings Inc will trade ex-dividend, for its quarterly dividend of $0.08, payable on 2/27/15. As a percentage of MNRK's recent stock price of $12.61, this dividend works out to approximately 0.63%, so look for shares of Monarch Financial Holdings Inc to trade 0.63% lower — all else being equal — when MNRK shares open for trading on 2/6/15.